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Payroll Tax Holiday and Unemployment Boost Are in Flux

There's a lot of information flying around about where we are with additional pandemic relief, but only minimal official guidance. Click through for a summary of where we are and what may happen in the future.

Social Security: Is It Time to Tap Into It?

You can start taking Social Security payments as early as age 62, but you get a bigger monthly payout if you can wait. What's the optimal time? Click through to learn the basics of Social Security calculations.

Paid Sick and Family Leave: The Tax Rules

More and more jurisdictions are mandating paid sick and family leave, and many companies offer it even if it's not required. But the tax rules can be complex. Click through to make sure you're in compliance when offering this popular benefit.

IRS: Tax Return Status

Where is your federal tax return refund? It depends. The IRS hasn't updated its information since the beginning of December, but there is some info. Click through to see what, if anything, you can do to find out what's happening with your return.

Key Rules for Garnishing Lump-Sum Payments

The DOL has clarified the types of lump-sum payments that are protected by federal garnishment laws versus those that are not. Click through for details to make sure you don't mishandle these for your employees.

Head of Household Filing: Who Is Eligible?

When filing each year, taxpayers have to figure out what their filing status is. The head of household status is typically the most advantageous—is it right for you? Click through to find out the qualifications.

What Is D&O Insurance and Who Needs It?

The pandemic has seen a sharp rise in D&O claims. Don't get caught unaware, and learn about your options. Click through to learn more about D&O insurance, who needs it and how it can protect you.

Know the Basics of Medicare

Medicare is a federal insurance program that provides health coverage for older Americans, and its provisions can get quite complicated. Click through for an introduction so you understand what you or your loved ones are entitled to.

Demystifying On-Call Pay

The conditions surrounding on-call pay can be confusing, and employers often misunderstand them. It comes down to whether employees should be paid if they're required to be available while not working. Click through for an intro to the complex rules.

The Future of Notarization

When it comes to signing financial and legal papers, you often have to go through the tedious process of finding a notary — and the pandemic has made that even more difficult. Click through to learn how notarization is changing.

What's the Tax Deal on IRAs?

IRAs are tax-favored personal savings accounts that set aside money for retirement. Most people have heard of them, but not everyone knows the tax details. Click through to make sure you understand how the tax advantages work.

What Exactly Is a "Tax Year"?

Tax years are based on annual accounting periods in which you keep records and report income and expenses. A tax year may not be a calendar year. Click through to discover the myriad annual accounting periods you may or may not adopt.

When Is It Time To Refinance a Home?

You can refinance a home to save money or make it easier to pay your monthly bills. But it can be tricky to figure out when a refi makes sense. Click through for details that will help you make the right financing decision.

When Should You Take Your Company Public?

Is the lure of taking your company public becoming irresistible? Maybe it's time, but there's a lot to think about first. Click through to read an introduction to this complex and risky step so you know what you're getting into.

Kim & Lee
Kim & Lee, LLP
info@kimleecpas.com
2305 W. 190th St. Suite 100
Torrance, CA 90504
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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